The company said that it was in advanced discussions with leading Nigerian banks, and expects to roll the solution out with banking partners to local consumers before the end of 2016.
“We’re excited by the prospects of mVisa for Nigeria as a mobile payment solution which brings real benefits to drive digital transformation,” said Ade Ashaye, Group Country Manager for Visa West Africa. “Because mVisa allows merchants to accept Visa payments without having to invest in costly point of sale hardware, it gives Nigerian consumers a reliable, secure and convenient mobile payment option.”
Robert Giles, Head of Retail Banking for Diamond Bank, said: “As a bank committed to bringing unrivalled customer experiences, we’re incredibly excited about mVisa and its potential for our customers in Nigeria.”
mVisa is said to be an innovative mobile payments solution that allows consumers to pay for goods by scanning a QR code on a smart phone or entering a merchant number into their feature phones.
mVisa will be available for both smartphone users and consumers using basic feature phones, with the potential to provide a mobile payment service to nearly all 150million1active mobiles phones in Nigeria.
Consumers can also use mVisa agents for domestic remittances as well as to access their cash if there is no ATM network.
These features accelerate financial inclusion, a core objective of both the Nigerian government and Visa.
This is also in line with Visa’s 2015 commitment to the World Bank to bring the benefits of Visa and electronic payments to 500 million more people globally by the end of 2020.
– CAJ News